Rs 7,380 crore order: This multibagger construction company receives a project from Hyderabad Metropolitan Development Authority!
With this award, the company’s asset base expands to over Rs 70,000 crore and O&M order book grows by Rs 14,500 crore.
Today, IRB Infrastructure Developers Ltd shares surged 2.10 per cent to Rs 27.72 crore, with an intraday high of Rs 28.33 and a low of Rs 27.49. The stock gave multibagger returns of over 300 per cent in just 3 years.
IRB Infra informed that the company has emerged as the selected bidder for the project of tolling, operation, maintenance & transfer (TOT) for 158 km of Nehru Outer Ring Road in Hyderabad, Telangana and has received LOA from Hyderabad Metropolitan Development Authority (HMDA) with revenue linked concession period of 30 years for upfront consideration of Rs 7,380 crore.
The project will be the second largest single asset TOT project in the country – after the Mumbai Pune Expressway project. With this award, Company’s Asset Base expands to over Rs 70,000 crore and O&M order book grows by Rs 14,500 crore.
IRB Infrastructure Developers Ltd is an infrastructure development and construction company in India with extensive experience in the roads and highways sector. It is also in other business segments in the infrastructure sector, including maintenance of roads, construction, airport development and real estate.
Talking about finance, IRB Infrastructure Developers has a market cap of Rs 16,750 crore with 3 years CAGR of 56 per cent. The company reported excellent numbers in its Quarterly Results and annual results.
The stock has a 52-week high of Rs 35 and a 52-week low of Rs 17.91. Investors should keep an eye on this Mid-Cap construction company under watchlist.